If you sell to women, you can assume they’re juggling a lot. To build a strong relationship, make her feel seen and acknowledged. Then make it easy to buy from you, or to reach you if there’s an issue. (Ola)

FINANCIAL DECISION MAKING

96% of women have primary or shared responsibility for family financial decisions.

Source: (Women and Investing Report, NY Life Investment Management, 2019 - they list “Forbes” as their source)

Over half of all women said that having a good personality fit was important to them when choosing a financial advisor.

Even when choosing a financial advisor, affluent women placed a higher value on finding a professional with whom they felt a personal relationship than men.

Interview with Yie-Hsin Hung, CEO, New York Life Investment Management, on Wealthtrack Episode#1554 (June 2019)

What women are looking for in a financial advisor

Men & Women: #1: Investment Knowledge

Women: #2 Women want a financial advisor to take their concerns seriously

#3: They get the respect they deserve

#4: Takes the time to take their full financial profile - what’s going on in their lives - before creating a roadmap.

WOMEN IN CORPORATE LEADERSHIP

“And more women than ever are the family breadwinners, spurring growth in their investable assets. Indeed, McKinsey’s 2019 Women in the Workplace survey indicates that there has been a significant increase in the share of women in corporate America—and in the upper echelons of management. For example, 44 percent of companies have three or more women in their C-suite, up from 29 percent of companies in 2015.”

(SOURCE: McKinsey & Company: Women as the Next Wave of Growth: https://www.mckinsey.com/industries/financial-services/our-insights/women-as-the-next-wave-of-growth-in-us-wealth-management)

“Winning the business of women isn’t about excluding men; it’s about excluding stereotypes and elevating the customer experience.”

~ Bridget Brennan, Author of Winning Her Business

When women buy for their families, they buy with intention. They want to know they trust the products they purchase. (Ola, based on research that I don’t recall just now)

WOMEN AS BREADWINNERS

In 40% of all households with children under 18, women are either the ONLY breadwinner, or they make more money than their partners.

(US Department of Labor)

WEALTH

We can say:

  • Women control 51% of all personal wealth in the US, and that number is expected to increase.

  • Between 2014 and 2019, women’s wealth in the US increased from $14 trillion to $22 trillion.

  • Women’s wealth in the US is significant, and it’s growing. According to the Women and Investing Report from New York Life, 51% of the personal wealth in the U.S. is controlled by women – an estimated $22 trillion worth

  • Women own 51% of the personal wealth in the US, an estimated $22 trillion worth.

(Women and Investing Report, NY Life Investment Management, 2019)

  • As intergenerational wealth is turned over, the wealth owned by women in the US is expected to jump by 30% (to nearly $29 trillion) over the next four decades/40 years.

ADVANCED DEGREES / EDUCATION

We can say:

Women now earn the majority of degrees, at all levels: 61% of Associate’s, 57% of Bachelor’s, 60% of Master’s and 52% of Doctoral degrees.

Women are outpacing men in higher education. In the US, women earn 61% of Associate’s, 57% of Bachelor’s, 60% of Master’s and 52% of Doctoral degrees.

(Women and Investing Report, NY Life Investment Management, 2019)

Women spend much of their lives feeling not seen and heard. Do those two things - whether at retail, on your website or in your emails - and you’ll stand out from the crowd. (ola)

Create List of things Women want, that others didn’t think of.

Pockets on ball gowns/formal dresses

More bathrooms

Nursing Spaces

Any brand can sell things to consumers. But the holy grails of marketing - loyalty, word-of-mouth, and brand passion – take more. Those only come if you develop a relationship with your shopper.

Your consumer needs to know that you really see her – and not just the part of her that might use your product. ALL of her. She’s got a lot going on, and your marketing should reflect that understanding.

She also needs to feel that you – the brand – genuinely care about her. And that you also care about the circle of family, pets and friends that surround her, because she’s buying for them, too.

At 9 Muses, we often liken marketing to dating. Let’s get to know each other first, and see if there’s a connection. Then – once I trust you and believe you care about my WHOLE life – maybe then we’ll take things farther. Not sure how to do that? It’s OK, you’re not alone; most brands really botch it.

Drop us a line. We can help you talk to girls.

Women aren’t just buying all the things; they’re also doing all the things.

They’re managing careers, caring for kids, pets and aging parents, and still doing the majority of household chores. When they buy for their families, they buy with intention. They want to know they trust the products they buy for their families.